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66: Peter Turchin - Why Empires Rise & Fall

The Nietzsche Podcast

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Ibn Khaldun and Supply of Labor

As the population expands, this almost always in and of itself leads to an oversupply of labor. When there is an undersupply of labor, such as when there's recently been a depopulation event, wages fall. The growing wealth that accumulates to the upper strata allows it to accommodate more elite aspirants. And ostentatious spending then increases among the elite ranks.

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